Amalgamated Bank Sells 4,656 Shares of Public Service Enterprise Group Incorporated $PEG

Amalgamated Bank lessened its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,643 shares of the utilities provider’s stock after selling 4,656 shares during the quarter. Amalgamated Bank’s holdings in Public Service Enterprise Group were worth $8,220,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PEG. Keener Financial Planning LLC bought a new position in Public Service Enterprise Group in the 2nd quarter worth $27,000. GoalVest Advisory LLC raised its holdings in Public Service Enterprise Group by 166.7% in the 2nd quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 225 shares during the period. Headlands Technologies LLC bought a new position in Public Service Enterprise Group in the 1st quarter worth $32,000. Wealth Preservation Advisors LLC bought a new position in Public Service Enterprise Group in the 1st quarter worth $33,000. Finally, Marshall & Sullivan Inc. WA bought a new position in Public Service Enterprise Group during the second quarter worth $33,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 0.0%

Shares of Public Service Enterprise Group stock opened at $80.76 on Friday. The firm has a market capitalization of $40.30 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 2.46 and a beta of 0.53. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. The company’s fifty day moving average price is $82.12 and its two-hundred day moving average price is $82.37. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.07. The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PEG. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. TD Cowen began coverage on shares of Public Service Enterprise Group in a research report on Thursday, October 16th. They set a “buy” rating and a $93.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Wednesday, October 8th. Wells Fargo & Company began coverage on shares of Public Service Enterprise Group in a research report on Tuesday. They set an “equal weight” rating and a $88.00 target price on the stock. Finally, BMO Capital Markets dropped their target price on shares of Public Service Enterprise Group from $89.00 to $85.00 and set a “market perform” rating on the stock in a research report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.21.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.